Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Novell (NOVL) dirt cheap, good buy? -- Ignore unavailable to you. Want to Upgrade?

To: Bryan C. Simpson who wrote (27332)	7/7/1999 4:28:00 PM
From: sepku	Read Replies (1) \| Respond to of 42771

i sold 100 at 28 3/8 in a minor position in a trading account so that had to account for some of the upside. i did the same with bvsn, sold at 72 1/2 and it went..... ;-) etc etc.

To: Bryan C. Simpson who wrote (27332)	7/7/1999 5:47:00 PM
From: Paul Fiondella	Read Replies (1) \| Respond to of 42771

We need a former/current broker/trader to correct my explanation Runs like this happen when there are institutions buying quantities of stock. Obviously timing is important. The brokers handling the orders have gotten into the habit of waiting until we get close to the end of the day to put in these orders. When everyone is buying all at once the stock goes up. You can watch the depth of the queues on the bid and ask side with a marketmaker level two screen. It doesn't tell you what is going on but it gives you some idea. My guess would be that some institution started to have their buy program executed when the stock didn't break any lower than 26 1/2 and somebody made a lot of money selling the inventory they accumulated from screwing the daytraders yesterday and most of today. Betting against NOVL is no longer a "safe" bet!!!! Shorting this stock as it runs up is going to leave you a very sorry trader. I wonder if Soros's machine is still playing with us.